Purchase price: $32,000 Cash invested: $58,354 Sale price: $105,000 5/17/24 purchase.Charming Little 3/1 - We are remodeling all inside and out including new roofing, this is our first project out of state, it will be a BRRRR, hopefully first of many to come.

@John Mason do you recommend a HELOC in this situation?   

I am in the process of settlement on my 1st property in 1 week. i have a 5% down conv loan thru a credit union bank. this a duplex and is a row house. i plan to live in one unit and rent out the other. the seller is also selling the duplex property next to it.

This does not mean your investment is insured.We often hear comments like, "We invested with XYZ because their fund / syndication is FDIC insured," (nope no its not...).To avoid these kinds of mistakes, I strongly recommend you always have an attorney review the Private Placement Memorandum (PPM) with you.

The way to handle it is to allocate expenses based on the percentage of the home’s square footage used for rental purposes.Here’s how it works:Calculate Rental Percentage: Add up the square footage of both the in-law suite and the rented room, then divide by the total square footage of the house.Apply This Percentage: Use this rental percentage to deduct a proportionate share of expenses like repairs, utilities, and mortgage interest.This post does not create a CPA-Client relationship.

Joining local real estate investor meetups, networking, and attending REIAs can help.

I've searched this forum but couldn't find much information on this.

I got this deal from a connector within Gator.

need a little help please.

@Ryan Lee, errors like this are fairly common.